EUR analysis 27.12.2019

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session to promise to resume its weekly gains, which were suspended last week for the first time in three weeks against the US dollar on the threshold of the European Central Bank's disclosure of the monthly report of the European Central Bank amid the scarcity of economic data on Friday by the economy The American is the largest economy in the world.

At 05:20 am GMT, the euro pair rose against the US dollar by 0.21% to 1.1121 levels, compared to the opening levels at 1.1098, after the pair achieved its highest level during the trading session at 1.1122, while achieving the lowest at 1.1096.

The financial markets are witnessing relatively volatile trading during the current week that carried Christmas holidays with weak liquidity levels in financial markets, while attention is being paid to the developments of measures to isolate US President Donald Trump, which may harm or question the deals and agreements reached by his administration with other countries. And, in addition to looking forward to the developments of Britain's exit file from the European Union.

Technical analysis

The euro against the dollar pair opens today's trading with a positive note to penetrate the level of 1.1108 and settle above it, which supports the continuation of our expectations for the bullish trend effectively for the coming period, paving the way for achieving our positive goals that start at 1.1180 and extend to 1.1280 after penetrating the previous level.

Moving above SMA 50 supports the expected rise, which will remain intact, provided stability above 1.1030 level.

The expected trading range for today is between 1.1065 support and 1.1200 resistance.

Expected trend for today: bullish.